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PremierBank Review

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PremierBank Savings
0.08% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

PremierBank started in 1863 and is headquartered in Fort Atkinson, Wisconsin. PremierBank handles $424 million in assets and $336 million in deposits, classifying it as a medium-size bank. PremierBank lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. At a SmartAsset rating of 4.1 stars out of 5, PremierBank should be solidly in contention for your choice of bank. PremierBank has multiple product offerings, which include savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, PremierBank's standard checking account does not have a monthly fee. Obtaining a checking account with no monthly fee as well as a savings account with a high APY at the same bank is your best option for getting the most income from your deposits while maintaining easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.1/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

2.9
SmartAsset Average: 3.5

PremierBank has a savings rate of 0.08%, which is fair compared to the average U.S. bank. PremierBank's one-year CD has a rate of 0.35%, while its highest-yielding money market account has an APY of 0.35%. Given its noncompetitive savings rate, you should think about opting for higher earning savings accounts with other banks.

How PremierBank's Savings Rates Compare

PremierBank Savings 0.08 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

PremierBank has generally extremely low fees in comparison to other U.S. banks. PremierBank's checking account has no monthly fee, ranking it excellent for anyone looking for a hassle-free account. Also, at $25.00, it has a markedly lower overdraft fee compared to the national average. PremierBank unfortunately doesn't refund out-of-network ATM charges, meaning you'll be required to search for a PremierBank ATM or pay the withdrawal fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $25.00 National Average: $35.00
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Service Quality

3.8
SmartAsset Average: 3.7

PremierBank is a brick-and-mortar bank, with 10 total bank locations in Wisconsin. With mobile and web apps, PremierBank makes mobile banking straightforward, even on the go. PremierBank's online and mobile banking platforms get moderate scores from users. Out of 33 customer reviews across both Apple and Android platforms, the PremierBank mobile app has an overall rating of 3.7 out of 5 (compared to the national average of 3.8). PremierBank's mobile app lets you control your finances by looking at account balances, transferring funds and accessing customer service. PremierBank gets a superb consumer satisfaction rating due to relatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 3.7/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.7
SmartAsset Average: 4.8

PremierBank is a medium-size bank with $424 million in assets and $336 million in deposits. PremierBank's Texas Ratio is 6.57%, indicating that the bank is in good financial shape and unlikely to fail. Additionally, PremierBank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

6.57%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare PremierBank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.08% APY $50
Checking Account 0.04% APY $1000
Certificates of Deposit
  • 12 Month: 0.35% APY
  • 24 Month: 0.60% APY
  • 36 Month: 0.90% APY
  • 48 Month: 1.15% APY
$300 for all terms
Money Market Account 0.25% APY $10000

PremierBank has several deposit products including savings accounts, checking accounts and CDs to give you many options to manage your money. PremierBank does not have the best savings rate, which means you should consider looking elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. PremierBank's CD rates are fair as compared against the national average.

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Find a PremierBank Near Me

PremierBank has 10 physical locations across the U.S.

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